The Minimum Efficient Scale Is

question 179

Multiple Choice

The minimum efficient scale is

• A)the level of output where diminishing returns have not set in yet.
• B)the plant size that yields the most profit.
• C)the smallest level of operation where long-run average costs are lowest.
• D)the smallest output level where the firm finally reaches productive efficiency.

Calculate the equivalent single discount rate from multiple discount rates.

Calculate the final amount due considering payment terms and discounts.

Apply the concept of trade discounts to calculate future or past values.

Understand and interpret trade terms such as 3/10, n/30.